Here are four things to consider when buying a waterfront property.
Before we get started with today’s topic, I’d like to extend a congratulations to my clients Jim and Maureen for the purchase of their beautiful lakefront property here in Gilford, New Hampshire. Enjoy your lovely new home!
Let’s dive into the things you need to know before you either buy or sell a waterfront property. One of the first things I do for buyers interested in a waterfront home is try to match their personality to the lake’s personality. Every lake has a personality, so to speak; if you’re a busy person who loves going to restaurants and bars, you probably want to be on Lake Winnipesaukee, whereas a more chill and relaxing environment can be found on Swan Lake (though there’s hardly ever anything for sale there). Lake Winnisquam, Lake Waukewan, Newfound Lake—for every lifestyle, there’s a corresponding lake.
The second most important thing to understand about these types of properties is sun exposure. A western exposure will of course afford you some dazzling sunsets, whereas an eastern exposure will offer lovely sunrises, and a southern exposure offers a bit of both. This seems obvious, but many people overlook this aspect, and depending on what they most value in their home’s surrounding scenery, they could be missing out.
Then there’s the waterfront line of the property. Most desirable is a sandy beach with a sandy bottom, but that’s not always the case. Sometimes, the slope heading into the lake is quite pronounced, and other times it’s much more gradual, allowing you to walk further out into the water. For more than just one reason, it’s important to understand what kind of water line is near the property.
Now we’re ready to discuss the house itself. I’ve seen them all—small houses, giant houses, seasonal houses, and year-round houses. Finding the right property at the right spot on the lake can feel nearly impossible, which is why people sometimes buy a piece of property only to tear it down and build a new house. If that approach entices you, give me a call. I know many builders in the area.
For those ready to sell their house, don’t hesitate to reach out to me. I can come over and do a complete market analysis, taking into account all of these aforementioned factors. Buyers: I’d love to hunt for the house with you and use my market expertise to see whether we can go in on the house below, at, or above its asking price. As always, I’m here to answer any real estate questions you have!